Unit 22, product and services development deals with the comprehensive recognition of the initial Idea transformation into the completely launched service or product. It identifies the new product development stages, from the concept and ideation testing to design, market launch and development. The unit focuses on the significance of recognising that the practical Strategies and the theoretical framework, which is underpinning the development of the successful product. Students have the motivation to apply this information in the scenarios of real-world weather, whether the venture is an entrepreneur or an established organisation. The identification of the real-world examples and case studies assists the learners in increasing their knowledge of the innovative services and products. It includes ebooks, mobile phones and all-time available banking, evolving from only a concept to a significant daily life part.

This unit also focuses on the challenges and risk association with the service and product development. All ideas will not get the success and this unit identifies the reason for the product`s short-lived launch. The factors, including consumer requirements, effective marketing, competitive analysis and market research, play a significant role in product success determination. The student will acquire the way to identify the potential mistakes such as inadequate testing, bad timing or misleading the audience of the target with strategies development to risk-mitigation. The recognition of this balance between practical and innovation, learners may navigate the difficulties of bringing new services or products to the market.

The unit provides equipment to the students with the strategies to critically analyse the process of product development and apply their information to generate a market-ready offering. It also caters for the significance, strategic planning and creativity in attaining the long-term relevance and profitability in the market competition. With the help of the theory and practice blind, the learners will increase the skills required to contribute to the service or product development that can meet the requirements of customers.

Unit Aims

The main aims of unit 22 product and service development, in Pearson`s set of HND business, are given below for the prior understanding of the students.

• To offer students a comprehensive recognition of the stages included in service or new product development from the generation of a market launch idea.
• To identify the significant factors with contribution to the failure or success of services or products, including market research, competitive positioning and consumer requirements.
• To identify the potential product development risks, it includes inadequate testing, poor timing and strategies for mitigation.
• To apply the practical tools and theoretical concepts in the scenarios of the real world or entrepreneurial context for service development and effective product.

Learning outcomes

The learning outcomes of the unit 22 product and service development are demonstrated below with the significant topics.

LO1: Explain and demonstrate processes involved in new product or service development.

• The concept of service and product:

Meaning and definition of the service and product concept, it includes intangible and tangible attributes.

The customer integration level in service or product marketing and development.

The service product system for supporting the sustainable performance.

• New service or product development:

Selection or screening ideas, generation ideas, methods of creation, testing concept strategies of marketing and analysis of business.

Association risk with the new service or product development: activity of a competitor, behaviour of a customer, internal change of technology and macro factors, change and investment level for strategic aims.

Increasing the new product failure risk: trialability, compatibility, complexity and observability.

Decreasing the service management risk: perishability, intangibility, variability and inseparability.

The digital technology used in designing, researching, development and testing new services and products.

NPD new product development with software systems.

LO2: Assess the life-cycle stage of the products or services in a company’s portfolio and evaluate whether innovation, adaptation or renovation are needed for the individual products or services.

• Services and products:

5 levels of product: basic product, core benefits, augmented product, expected product and potential product.

Classification of market services and products within both B2B and b2c contexts.

• Services and life cycle of product:

Versatile operations and forms of a life cycle of the product.

Management of life cycle: revitalising and repositioning the product.

• Product service management and line management choices:

Adaptation and standardisation

Macro factors impact or influence the new or adapted development of services and products.

Role and trend of innovation.

LO3: Design and pitch a new/renovated product or service.

• Development of a new product or service innovation:

Testing of the market

Launch of the product (connecting to distribution and communication of marketing.

Designing guidance, and pitching an adapted or new service or product.

Improved or new service launch, communications of marketing and consumer interest generating.

LO4: Demonstrate an ability to critically reflect on the skills of team working, creative development and presentation.

• Cognitive skills development:

Approaches and theories to reflect development and learning.

Development of team working skills

Creative services or product, entrepreneurship and development.

Assessment criteria

Unit 22 product and service development has the assessment criteria which are connected to each learning outcome, such as.

LO1: Explain and demonstrate processes involved in new product or service development.

• 1.1 Explain the processes involved in the development of products and services and the levels of customer integration. 
• 1.2 Apply these processes in application to the development of a specific organisational product or service.
• 1.3 Consistently demonstrate a justified application of subject knowledge and understanding to the processes of product or service development.
• 1.4 Provide a well-articulated, coherent and logically presented pitch that has a fully justified approach to decision-making throughout the development process, market launch and distribution.

LO2: Assess the life-cycle stage of the products or services in a company’s portfolio and evaluate whether innovation, adaptation or renovation are needed for the individual products or services.

• 2.1 Assess the life-cycle stage of the products or services in a company’s portfolio.
• 2.2 Evaluate which appropriate product line management choices are required for individual products or services.
• 2.3 Provide a coherent and justified evaluation that is supported by material synthesised from a range of validated sources.

LO3: Design and pitch a new/renovated product or service.

• 3.1 Design and pitch a product or service taking into account market testing, product/service launch and distribution.
• 3.2 Design a creative, dynamic and detailed pitch that provides evidence of a well-planned, developed and evaluated product or service.

LO4: Demonstrate an ability to critically reflect on the skills of team working, creative development and presentation.

• 4.1 Complete a reflective statement that critically reflects on team working, creative development and presentation.
• 4.2 Address concerns and issues with recommendations for improvements.
• 4.3 Provide an insightful and independent reflection on teamwork and creative development, giving valid and justified recommendations.

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